Macallan firm Edrington ups revenue 45% to £821m

Glasgow-based drinks company Edrington — owner of Scotch whisky brands The Macallan, Highland Park and The Famous Grouse — has reported a 45% increase in core revenue to £821.2 million for the year to March 31, 2022.

The core revenue was up 22% on 2019-20.

Profit before tax rose to £270.7 million from £171.3 million in 2020-21 and £222.4 million in 2019-20.

“The results mark a return to Edrington’s pre-pandemic trend of continued underlying growth,” said Edrington.

“Edrington’s leading brand, The Macallan, led the business performance.

“The accelerated development of direct-to-consumer sales was a significant driver of growth, particularly in Asia.

“The Macallan also delivered a number of new expressions including its oldest ever, The Macallan Reach.

“The Malt Whiskies business unit (comprising The Glenrothes, Highland Park and Naked Malt) performed well across key markets, growing the value of sales ahead of the increase in volume.

“Scotland’s favourite whisky The Famous Grouse performed well in its core markets in northern and eastern Europe, with strongest results in Sweden and the UK.

“Brugal, Edrington’s premium rum, continued to generate outstanding growth in its home market of the Dominican Republic and good performance in Spain, its leading international market.

“Its ultra-premium expression Brugal 1888 has doubled in size from pre-pandemic levels.

“Edrington formed a strategic partnership with Berry Bros. & Rudd, taking a significant minority stake in No.3 London Dry Gin.”

Edrington is headquartered in Scotland and employs over 3,000 people. Its principal shareholder is The Robertson Trust, which has donated £322 million to charitable causes in Scotland since 1961.

Edrington CEO Scott McCroskie said: “Edrington has returned to the consistent growth trend we saw in the years before the pandemic, with robust performances across our core markets, particularly the USA, China and the Dominican Republic.

“Whilst the economic landscape will continue to present challenges, we have healthy brands, an effective strategy, record levels of investment in the business, great people and strong momentum.

“I am confident that Edrington is well-positioned to deliver sustainable success in the future.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.